Detailed Single Year Tables

Description of Proposed Provision:
Progressive price indexing (30th percentile) of PIA formula factors beginning with individuals newly eligible for OASI benefits in 2021: Create a new bend point at the 30th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 30th percentile and below. Reduce the 32 and 15 percent formula factors above the 30th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum grows by inflation rather than growth in the SSA average wage index. Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired-worker beneficiary status.

&nbsp

Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

&nbsp

Expressed as a percentage of present-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofpresent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2012

13.83

12.89

-0.93

340

0.00

0.00

0.00

2013

13.95

12.83

-1.12

329

0.00

0.00

0.00

2014

13.98

12.93

-1.05

315

0.00

0.00

0.00

2015

13.97

12.95

-1.01

302

0.00

0.00

0.00

2016

13.94

12.98

-0.96

290

0.00

0.00

0.00

2017

13.91

13.01

-0.91

277

0.00

0.00

0.00

2018

13.96

13.03

-0.93

265

0.00

0.00

0.00

2019

14.13

13.05

-1.08

253

0.00

0.00

0.00

2020

14.37

13.07

-1.30

240

0.00

0.00

0.00

2021

14.65

13.11

-1.55

227

0.00

0.00

0.00

2022

14.97

13.13

-1.84

212

0.00

0.00

0.00

2023

15.28

13.14

-2.14

197

-0.01

0.00

0.01

2024

15.58

13.16

-2.42

181

-0.02

0.00

0.02

2025

15.85

13.18

-2.68

165

-0.03

0.00

0.03

2026

16.11

13.19

-2.92

148

-0.04

0.00

0.04

2027

16.35

13.21

-3.14

130

-0.06

0.00

0.06

2028

16.55

13.22

-3.33

112

-0.08

0.00

0.08

2029

16.72

13.23

-3.49

92

-0.11

-0.01

0.10

2030

16.87

13.24

-3.62

73

-0.14

-0.01

0.13

2031

16.97

13.25

-3.72

52

-0.17

-0.01

0.16

2032

17.04

13.25

-3.79

31

-0.21

-0.01

0.20

2033

17.08

13.26

-3.82

10

-0.25

-0.01

0.24

2034

17.09

13.26

-3.83

----

-0.29

-0.02

0.28

2035

17.07

13.26

-3.81

----

-0.34

-0.02

0.32

2036

17.04

13.26

-3.78

----

-0.38

-0.02

0.36

2037

17.00

13.26

-3.74

----

-0.43

-0.02

0.41

2038

16.94

13.26

-3.68

----

-0.49

-0.03

0.46

2039

16.85

13.25

-3.60

----

-0.54

-0.03

0.51

2040

16.76

13.25

-3.51

----

-0.59

-0.03

0.56

2041

16.67

13.24

-3.42

----

-0.65

-0.04

0.62

2042

16.57

13.24

-3.33

----

-0.71

-0.04

0.67

2043

16.47

13.23

-3.24

----

-0.77

-0.04

0.73

2044

16.37

13.23

-3.14

----

-0.84

-0.05

0.79

2045

16.28

13.22

-3.06

----

-0.91

-0.05

0.85

2046

16.19

13.22

-2.97

----

-0.97

-0.06

0.92

2047

16.09

13.22

-2.88

----

-1.04

-0.06

0.98

2048

16.00

13.21

-2.79

----

-1.11

-0.06

1.05

2049

15.91

13.21

-2.70

----

-1.19

-0.07

1.12

2050

15.82

13.20

-2.62

----

-1.26

-0.07

1.19

2051

15.74

13.20

-2.54

----

-1.33

-0.08

1.26

2052

15.66

13.19

-2.47

----

-1.40

-0.08

1.32

2053

15.59

13.19

-2.40

----

-1.48

-0.08

1.39

2054

15.53

13.19

-2.34

----

-1.55

-0.09

1.46

2055

15.47

13.18

-2.28

----

-1.63

-0.09

1.53

2056

15.41

13.18

-2.23

----

-1.70

-0.10

1.60

2057

15.35

13.18

-2.17

----

-1.77

-0.10

1.67

2058

15.29

13.18

-2.12

----

-1.84

-0.11

1.74

2059

15.23

13.17

-2.06

----

-1.91

-0.11

1.80

2060

15.17

13.17

-2.00

----

-1.98

-0.11

1.87

2061

15.11

13.17

-1.94

----

-2.05

-0.12

1.93

2062

15.05

13.16

-1.89

----

-2.12

-0.12

2.00

2063

14.99

13.16

-1.83

----

-2.18

-0.12

2.06

2064

14.94

13.16

-1.78

----

-2.25

-0.13

2.12

2065

14.89

13.16

-1.73

----

-2.31

-0.13

2.18

2066

14.84

13.15

-1.69

----

-2.37

-0.14

2.24

2067

14.80

13.15

-1.65

----

-2.44

-0.14

2.30

2068

14.76

13.15

-1.61

----

-2.50

-0.14

2.36

2069

14.73

13.15

-1.58

----

-2.57

-0.15

2.42

2070

14.69

13.15

-1.55

----

-2.63

-0.15

2.48

2071

14.66

13.14

-1.51

----

-2.70

-0.15

2.54

2072

14.62

13.14

-1.48

----

-2.76

-0.16

2.60

2073

14.58

13.14

-1.44

----

-2.82

-0.16

2.66

2074

14.55

13.14

-1.41

----

-2.89

-0.17

2.72

2075

14.51

13.14

-1.38

----

-2.95

-0.17

2.78

2076

14.48

13.13

-1.34

----

-3.01

-0.17

2.84

2077

14.44

13.13

-1.31

----

-3.07

-0.18

2.89

2078

14.41

13.13

-1.28

----

-3.13

-0.18

2.95

2079

14.38

13.13

-1.25

----

-3.19

-0.18

3.01

2080

14.35

13.13

-1.22

----

-3.26

-0.19

3.07

2081

14.32

13.13

-1.20

----

-3.32

-0.19

3.13

2082

14.30

13.13

-1.17

----

-3.38

-0.19

3.18

2083

14.27

13.12

-1.15

----

-3.44

-0.20

3.24

2084

14.25

13.12

-1.13

----

-3.50

-0.20

3.30

2085

14.23

13.12

-1.11

----

-3.57

-0.21

3.36

2086

14.21

13.12

-1.09

----

-3.63

-0.21

3.42

2087

14.18

13.12

-1.06

----

-3.69

-0.21

3.48

&nbsp

Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2012 Trustees Report.

2012-2086

15.56%

13.96%

-1.60%

2033

-1.13%

-0.06%

1.06%

&nbsp

1 Under present law, the year of Trust
Fund reserve depletion is 2033.